A comparable property sold 15 months ago for $105,000. If the appropriate adjustment for market conditions is 0.25% per month (without compounding), what would be the adjusted price of the comparable property?
A) $105,262.50
B) $105,393.80
C) $108,937.50
D) $144,375

Question

Quizplus · Accepted Answer

The adjustment for market conditions is 0.25% per month for 15 months. The total adjustment is 0.25% * 15 = 3.75%. The adjusted price is $105,000 * (1 + 0.0375) = $108,937.50.

A Comparable Property Sold 15 Months Ago for $105,000